JACKSON STATE COMMUNITY COLLEGE

COURSE SYLLABUS

ECONOMICS 212 GROUND SECTION – Principles of Micro Economics II

FALL 2008 SEMESTER      

 

 

 

 

Instructor:                     Terri Messer, Associate Professor of Economics

Office Location:            Classroom Building #148

Office Phone:                (731) 424-3520 Ext. 326

                                    800-355-5722 Ext. 326

Office Fax:                   (731) 425-9552

Campus Email:  tmesser@jscc.edu

Office Hours:                On Campus Hours:  As posted on office door. 

Course Number:           Eco 212

Course Title:                 Principles of Microeconomics

Level and Credit:          Undergraduate, 3 Semester Hours

 

Required Text:           Economics Principles, Applications and Tools

                                    5th edition by O’Sullivan/Sheffrin/Perez including MyEconLab

                                    ISBN:  0-13-223565-X

                                    YOU MUST PURCHASE BOTH THE TEXTBOOK AND

MY ECON LAB ACCESS CODE

 

 

I.  Course Description:

A course providing for an investigation of microeconomic principles and policies.  Emphasis is placed upon analysis of the forces of supply and demand, theories of consumer behavior, production costs, application of marginal analysis and equilibrium theory to price and output decisions of the firm in competitive and noncompetitive markets, resource allocation and principles of international trade and finance.

 

 

 

II.  Course Learning Objectives:

This course should help you to:

A.                 better understand the role that prices and markets play in organizing and directing economic activity.

B.                 discover and analyze the economic forces, which guide consumers in their decisions to demand products in the market place.

C.                 interpret the basic revenue and cost concepts, which ultimately direct producers  in their decisions to supply products.

D.                 identify the characteristics of competitive and noncompetitive markets.

E.                  illustrate, with basic economic analysis, the market results of industries operating under both competitive and noncompetitive conditions.

F.                  appraise, in terms of fairness and efficiency, the social consequences, which  evolve under differing degrees of economic competition.

G.                 examine the economic theories that apply to trade between nations.

H.                 perceive the political and economic arguments offered for and against the policy of free trade between nations.

 

 

 

III.  Topics To Be Covered and Referenced Text Material:

O’Sullivan Text, 5th Edition Contents Breakdown

Economics 212 – Micro

 

UNIT 1   Introduction and Key Principles

Topic #                                                                                                  Referenced Text Chapter

  1            Introduction: What is Economics?                                                   1

  2            The Key Principles of Economics                                                     2

  3            Demand, Supply, and Market Equilibrium                                       4 & 21*

                And Market Efficiency

  4            Elasticity:  A Measure of Responsiveness                                      20

UNIT 2   A Closer Look at Consumers/Producers

  5            Consumer Choice Using Utility Theory                                           22

  6            Production Technology and Cost                                                     23

UNIT 3    Market Structures

  7            Perfect Competition                                                                             24 

  8            Monopoly and Price Discrimination                                25 & 28*

                Controlling Market Power

  9            Monopolistic Competition                                                                 26

10            Oligopoly and Strategic Behavior                                                     27

UNIT 4 The International Economy

  11          Exchange and Markets                                                                        3*

  12          International Trade and Public Policy                                              18

  13          The World of International Finance                                                 19           

                                                                                                                (Note out of sequence chapters)

 

IV. Grading:                                             Points                                 Approximate % Overall Grade                       

                Exam 1                                        100                                      18% overall grade                               

                Exam 2                                        100                                      18% overall grade                               

                Exam 3                                        100                                      18% overall grade                               

                Final Exam                                 120                                      22% overall grade                               

                MyEconLab Assignments       80                                      15% overall grade

                Outside Reading Articles        50                                       9% overall grade

                Total Points Available            550

 

Grading Scale:

A = 90 - 100

B = 80 – 89

C = 70 - 79

D = 60 – 69

 

 

 

V.  MyEconLab Instructions:

By purchasing a new O’Sullivan textbook, Economics, 5th edition, you received an “Access Code” to an accompaniment study program we will be using this semester:  MyEconLab.  Please follow the directions to “add” yourself to the course I have set up:

Go top on left hand tool bar, choose New User, Students.  From there follow the directions as prompted inputting your course Access code when requested.  The Author for this text is O’Sullivan; we are using “MyEconLab” (not MyEconLab with Course Compass); enroll in your Eco 212 section ____.  You will then be directed to a screen to install a Plug Installation Wizard.  This program is safe and only takes a few moments to install on most systems.  From there, you’ll see my welcome note and the Assignment Listing on the right tool bar.  The interactive assignments count for 15% of your overall course grade and must be completed my midnight prior to the relevant unit exam.  You are allowed multiple attempts at correct question submissions and this learning tool should prove to be a vital course enhancement.  Pay close attention to the “Calendar” for firm ‘last chance’ dates.

***IF YOU CHOOSE TO PURCHASE A USED TEXTBOOK VIA AN ALTERNATE ONLINE RESOURCE, YOU WILL STILL BE REQUIRED TO PURCHASE THE “MY ECON LAB’ ACCESS CODE THE FIRST TIME YOU LOG INTO THAT PROGRAM.  THE COST FOR THE ACCESS CODE ALONE IS APPROXIMATELY $40.  THIS PROGRAM IS REQUIRED TO SUCCESSFULLY COMPLETE ALL ONLINE ASSIGNMENTS, ETC.

 

VI. Current Outside Reading Articles – Worth 9% overall course grade.

You will be required to review five magazine articles throughout the semester – one per unit material.  The purpose of this graded item is to encourage correlation between conceptual, textbook material to current, real world economic events. The rubric for this item is as follows:

  1. Each review must be at least one page typed, double spaced using 12 font following the standard MLA format. (See the link on the elearn Homepage for more details.)
  2. Each unit periodical review is to be turned in to the instructor no later than the exam day, and time period, of that relevant unit exam.  I allow NO late submissions of this work – NO EXCEPTIONS!  
  3. The minimum review requirements:
    1. Title of article, author, periodical source and issue date.
    2. The source of the review is open to any current magazine article within the past three months.  The article should address any of the specific economic topics covered during the unit.
    3. You should provide a summary/paraphrase of the relevant facts/opinions of the article’s author.
    4. You should also provide a personal analysis/response to this article as the topic relates to our classroom discussions.

 

VII. Attendance:

In the Business Department of Jackson State Community College, our objective is to not only advise you of the text material you will need to be successful in the "real" business world, but to aid you in developing good work ethics as well.  One of the main areas of concern for companies today is how to encourage good attendance and punctuality.  

Attendance in this course is not mandatory but highly encouraged. The student is held accountable for information provided in class discussions, etc. 

If a student does portray a "good work ethic" by having perfect attendance, two additional points will be added to the final course grade. (You do the math!)

 

VIII. Make-Up Exam Policy:

Every effort is made to adhere to the Tentative Course Timeline to follow that denotes the expected weekly topic of study, including exam weeks.  If, for some “great” reason, you must be absent the day of a scheduled exam – IT IS YOUR RESPONSIBILITY TO CONTACT ME IMMEDIATELY BEFORE, OR AFTER, THE SCHEDULED EXAM to explain your situation.  My JSCC email, D2L email and campus phone numbers are available on this document.  If your ‘situation’ is accepted as reasonable, you will be allowed to take a make up exam but not until the final class day of the semester. 

 

IX. ADA and Honesty Policies

a.        Jackson State will make reasonable accommodations for persons with documented physical, mental or learning disabilities.  Students should notify their instructor and the Coordinator of Disabled Student Services – located in the Counseling Office, Room 12 of the Study Union Building – of any special needs.  Instructors should be notified the first week of class.  All discussions remain confidential.

b.       Academic Honesty Policy is listed on page 20 of the current Student Catalog and Handbook.

 

X. Tentative Course Timeline – Fall 2008 Ground Semester (This schedule is subject to change)

Semester Week                                   Topic/Exam

8/25/08                                                  Syllabus Review & Topic 1:  Introduction to Economics

9/01/08                                                  Monday, 9/01/08 LABOR DAY HOLIDAY   

                                                                Topic 2:  The Key Principles of Economics

9/08/08                                                  Topic 3:  Demand, Supply, and Market Equilibrium

9/15/08                                                  Topic 4:  Elasticity

9/22/08                                                  UNIT EXAM 1 & Topic 5:  Consumer Theory

9/29/08                                                  Topic 6:  Production Technology and Cost

10/06/08                                               UNIT EXAM 2 & Topic 7:  Perfect Competition

10/13 – 10/14/08                                FALL BREAK

10/15/08                                               Topic 7 Continued & Topic 8:  Monopoly

10/20/08                                               Topic 9:  Monopolistic Competition & Topic 10:  Oligopoly

10/22/08                                               LAST DAY TO DROP FALL 2008 CLASS

10/27/08                                               GOOD FRIDAY HOLIDAY

11/03/08                                               Topic 10 continued and UNIT EXAM 3

11/10/08                                               Topic 11 Exchange and Markets

11/17/08                                               Topic 12 International Trade Policy

11/24/08                                               Topic 13:  The World of International Finance

11/27 - 11/28                                       THANKSGIVING HOLIDAY

12/01/08                                               Catch up week & Review for FINAL COMPREHENSIVE EXAM

12/03/08                                               LAST DAY OF FALL 2008 CLASSES

12/04 – 12/10/08                                FINAL EXAMS – SPECIFIC DAY TO BE ANNOUNCED